Adoption of the Revenue Recognition Standard
First written in FY2022-Q1. 2 of 4 entries say "Restated". Latest entry: FY2022.
0 other companies' latest entry also says "Achieved".
- FY2022AchievedAnnual report
「As a result, compared with the amounts before applying the Revenue Recognition Standard and other standards, consolidated net sales in the consolidated statement of income for the current consolidated fiscal year increased by ¥72 million, while operating profit, ordinary profit, and profit before income taxes each increased by ¥72 million. The beginning balance of retained earnings also decreased by ¥464 million.」
Annual application of the Revenue Recognition Standard was completed, and the company disclosed the confirmed impacts of ¥72 million on net sales and each profit measure and a ¥464 million decrease in beginning retained earnings. - FY2022-Q3RestatedAnnual report
「As a result, the beginning balance of retained earnings decreased by ¥464 million, while “Other” under current liabilities increased by ¥679 million at the end of the current third-quarter consolidated accounting period. The impact on quarterly profit before income taxes for the current third-quarter cumulative consolidated period was immaterial.」
The company continued applying the Revenue Recognition Standard and disclosed its impact as a ¥464 million decrease in beginning retained earnings and a ¥679 million increase in “Other” under current liabilities. - FY2022-Q2RestatedAnnual report
「As a result, the beginning balance of retained earnings decreased by ¥464 million, while “Other” under current liabilities increased by ¥661 million at the end of the current second-quarter consolidated accounting period. The impact on quarterly profit before income taxes for the current second-quarter cumulative consolidated period was immaterial.」
The company continued applying the Revenue Recognition Standard and disclosed its impact as a ¥464 million decrease in beginning retained earnings and a ¥661 million increase in “Other” under current liabilities. - FY2022-Q1First statedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards were applied from the beginning of the current first-quarter consolidated accounting period. Revenue is now recognized at the amount expected to be received in exchange for the promised goods or services when control of those goods or services transfers to the customer. Accordingly, product sales and related product warranty services were identified as separate performance obligations, and the method was changed to recognize revenue when each performance obligation is satisfied. As a result, the beginning balance of retained earnings decreased by ¥464 million, while “Other” under current liabilities increased by ¥659 million at the end of the current first-quarter consolidated accounting period.」
The Revenue Recognition Standard was applied from 1 April 2021, and the method was changed to recognize product sales and product warranty services as separate performance obligations. The application reduced beginning retained earnings by ¥464 million and increased “Other” under current liabilities by ¥659 million.